The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 9.5% in November

The Gabelli Equity Trust Inc. (NYSE:GAB) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 103,400 shares, a decrease of 9.5% from the November 15th total of 114,200 shares. Based on an average daily trading volume, of 582,500 shares, the days-to-cover ratio is presently 0.2 days.

The Gabelli Equity Trust Price Performance

NYSE GAB traded up $0.03 during trading on Tuesday, hitting $5.53. 499,861 shares of the company traded hands, compared to its average volume of 576,325. The business has a fifty day simple moving average of $5.57 and a 200 day simple moving average of $5.46. The Gabelli Equity Trust has a 12 month low of $4.96 and a 12 month high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 10.85%.

Institutional Investors Weigh In On The Gabelli Equity Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Concourse Financial Group Securities Inc. raised its position in shares of The Gabelli Equity Trust by 252.9% during the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock valued at $31,000 after buying an additional 4,300 shares during the last quarter. Rothschild Investment LLC acquired a new position in The Gabelli Equity Trust in the 2nd quarter valued at approximately $31,000. CNB Bank bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth approximately $38,000. Triton Wealth Management PLLC acquired a new stake in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $60,000. Finally, Kapstone Financial Advisors LLC bought a new stake in shares of The Gabelli Equity Trust during the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

About The Gabelli Equity Trust

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.